June Produces Kentucky’s Slowest Sports Betting Month

The Kentucky Horse Racing and Gaming Commission reported that online and retail sportsbooks integrated to accept $150.3 million of wagers in June, down 17.1% from May. It was the very first real summer season slowdown month for Bluegrass wagerers as the NBA and NHL wrapped up their seasons and MLB provided most of major betting occasions.


Gross income fell 27% month-over-month to $15.8 million while the 10.5% hold, seventh lowest all-time, dropped almost 1.5 points from May.


Adjusted profits of $15.4 million in June resulted in $2.2 million in taxes paid to the Commonwealth.


Impressive very first half


Despite the lower figures in June, the amount wagered in Kentucky all-time surpassed $2 billion while operators have actually taken more than $250 countless revenues and filled Kentucky's coffers with $35.3 million in tax profits.


Kentucky sports betting has actually likewise created a manage of $1.2 billion and profits of more than $143.9 million in the very first 6 months of 2024. Operators have delighted in an 11.6% hold year-to-date.


Battle of the bigs


Online sports betting represented $145.7 countless Kentucky's total handle in June.


DraftKings created the highest quantity of betting in the Commonwealth with a $56.6 million deal with. The online operator's hold fell just shy of double digits, allowing FanDuel to rake in the most revenue in June on a $47.3 million deal with.


FanDuel had a win rate above 14% for the third successive month and posted the state's finest hold.


June was a strong month for bet365, which captured third place in online handle and was the only other sportsbook to reach $1.2 million in profits. Caesars got to $9.1 million in wagers while BetMGM wasn't far behind with an $8.2 million manage while also taking pleasure in a 9.3% hold.


ESPN BET had the second-highest win rate for June at 10%, however the PENN Entertainment-owned sportsbook summoned just the sixth-best manage and made half of BetMGM's total revenue.


Fanatics wasn't far behind with a handle of $4 million, and Circa produced a 13% hang on a deal with of $805,833 in its first complete month given that introducing in Kentucky in May.


Churchill Downs controls


Retail sports wagering produced a manage of $4.6 million in June, below May's $5.8 million. Brick-and-mortar shops combined for an 11.3% hold.


Churchill Downs comprised much of Kentucky's amount bet, accounting for $2.3 million at its Kambi-operated sportsbook. ended up second with a deal with of $821,930 while Red Mile generated $782,285 in bets.